An undisclosed buyer acquired 3,481 acres of subsurface oil, gas, and mineral rights from CTO Realty Growth, Inc. for $1 million.
October 26, 2023
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An undisclosed buyer acquired 3,481 acres of subsurface oil, gas, and mineral rights from CTO Realty Growth, Inc. (NYSE:CTO) for $1 million during the nine months ended September 30, 2023.
An undisclosed buyer completed the acquisition of 3,481 acres of subsurface oil, gas, and mineral rights from CTO Realty Growth, Inc. (NYSE:CTO) during the nine months ended September 30, 2023.
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in higher growth markets in the United States. The Company operates in four primary business segments: management services, commercial loans and investments, real estate operations, and income properties. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of three commercial loan investments and one preferred equity investment, which is classified as a commercial loan investment. The real estate operations segment includes a portfolio of subsurface mineral interests associated with approximately 352,000 surface acres in 19 counties in the State of Florida and an inventory of mitigation credits. The Companyâs business also includes its investment in PINE.